In Focus

Maybank expects to keep its controlling stake in Bank Internasional Indonesia despite the recent change in bank ownership rules in Indonesia.

Indonesia’s bankers are the best paid in Asia while its banks are the most profitable in Southeast Asia.

Bank Mega doubled its net profit to US$96.35 million or Rp 909 billion in the first half of 2012 from Rp 431 billion last year.

The Philippines’ oldest and third largest bank by assets reported a 52% jump in net income during the first half.

The combined net income of South Korea’s banking system plunged 59% during the second quarter.

Nomura Holdings CEO Kenichi Watanabe resigned yesterday in an insider trading scandal that has again smeared the reputation of Japan's biggest investment bank.

Bank of China enters into a partnership with Switzerland’s largest private bank after surrendering its wealth management business.

Malaysia’s Bank Muamalat Malaysia Bhd and Bank of Shizuishan will open an Islamic bank in Ningxia Province within two years.

CITIC Securities Company Ltd is about to complete the acquisition of Credit Agricole’s Hong Kong-based brokerage for US$1.25 billion.

Foreign banks still look towards revenue growth of 20% in China despite the country’s unnerving economic slowdown.

Indonesia is limiting single ownership of domestic financial institutions to 40% under new rules but with certain exceptions.

Sales of wealth management products in China jumped 43% to US$1.90 trillion during the first half of the year.

The People's Bank of China insists that China’s cash-flush banks lend more money to productive sectors of the economy.

A slowdown in exports and a new lending rules will hobble lending growth by Indonesia's commercial banks in the second half of the year.

Banks' credit grew just 1.2% in the first quarter of the fiscal year that began in April.

The Bank of Korea yesterday cut its benchmark seven-day repurchase rate by a quarter of a percentage point to 3%.